The post-closing trial balances of two proprietorships on January 1, 2019, are presented below.

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At the end of its first year of operations on December 31, 2019, NBS Company's accounts show the following.

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The partners in Crwford Company decide to liquidate the firm when the balance sheet shows the following.

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At April 30, partners capital balances in PDL Company are G. Donley $52,000, C. Lamar $48,000, and J. Pinkston $18,000. The income sharing ratios are 5:4:1 respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner.

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On December 31, the capital balances and income ratios in TEP Companyare as follows.

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Mark Rensing has prepared the following list of statements about partnerships

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K. decker, S. Rosen, and E. toso are forming a partnership. Decker is transferring $50,000 of personal cash to the partnership. Rosen owns land worth $15,000 and a small building worth $80,000, which she transfers to the partnership. Toso transfers to the partnership cash of $9,000, accounts receivable of $32,000, and equipment worth $39,000. The partnership expects to collect $29,000 of the accounts receivable.

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Suzy Vopat has owned and operated a proprietorship for several years.

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McGill and Smyth have capital balances on January 1 of $50,000 and $40,000, respectively.

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Coburn (beginning capital, $60,000) and Webb (beginning capital $90,000) are partners.

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